- Telegram is all set to raise around $1.5 billion in a bond issue from BlackRock, Citadel, and Mubadala
- Pavel Durov announced that Telegram partnered with xAI and plans to offer Grok AI services to its billions of users
Telegram is circling in the headlines for planning to raise $1.5 billion by issuing bonds. Renowned firms such as BlackRock, Citadel, and Mubadal are going to participate in the fundraising. Even though its CEO is still facing legal issues from the French authorities, it didn’t stop these companies from participating in Telegram’s bond issuance. Te
The Wall Street Journal reported that new and existing investors will participate in Telegram’s bond issuance. Furthermore, these bonds are five years long and will issue a 9% yield to buyers. WSJ also confirmed that the messaging app will use the raised funds to repurchase its debt from Telegram’s 2021 bond issuance.
Pavel Durov is in France, and the authorities have prohibited him from leaving the country. He is still facing legal troubles because of his inability to moderate the social messaging app and reduce criminal activity. This didn’t impact the app adversely because of its sheer popularity, usage, and growing number of users across the globe.
The CEO even made a post earlier today boasting about the growth in users of the Telegram app. His X post reads,
“Telegram Premium now has over 15 million paid subscribers. The number has doubled in just one year.”
Further stirring the enthusiasm among the community, Pavel Durov posted that he is traveling to Dubai in June and teased the audience by saying, “good news ahead.”
Telegram Partners with Elon Musk’s xAI
The most recent update from the Telegram CEO is making waves in both the tech and crypto industries. Durov announced that the firm has struck a 1-year deal with the popular xAI firm. This partnership will bring Grok to billions of Telegram users by integrating it into the messaging app.
The social messaging app will receive $300 million in cash and equity from xAI through this partnership. Furthermore, around 50% of the revenue generated from xAI subscriptions through Telegram will also reach the app’s wallet.
Grok AI has become popular with its advanced, comprehensive, and analytical capabilities. The increasing number of Telegram users is now going to experiment with the AI through Grok.
Highlighted Crypto News Today:
Ethereum Transforms Into Institutional Settlement Layer, Says Bitwise
